Since successfully holding the $0.11 support level, DoubleZero [2Z]o has traded within an ascending channel.
After closing at higher highs for consecutive days, DoubleZero finally broke out and climbed to a monthly high of $0.14 before a mild pullback.
At press time, 2Z traded at $0.137, up 10.9% on the daily charts. Over the same period, its market cap rose 10.9% to $486 million and reclaimed a spot in the top 100 crypto rankings.
Grayscale revealed the latest update to its Asset Under Consideration for the first quarter of 2026. The list included a diverse range of altcoins positioned to shape the firm’s future offering and market direction.
With its latest update, the firm expanded the “Utilities and Services” category by adding DoubleZero. By including 2Z, Grayscale signaled its focus on the growing influence of DePIN and tokenization in the market.
After the listing, market players took notice, and investors across the market were incentivized to take positions.
After 2Z signaled a price recovery, investors rushed into the futures and chased the market, further strengthening upside momentum.
According to CoinGlass, Derivatives Volume rose to $46 million and then fell back to $44 million, while Open Interest (OI) rose 13.4% to $17.48 million, as of writing.
Usually, when OI and volume rise in tandem, it suggests increased participation and higher capital inflows.
In fact, over the past three days, over $19 million has flowed into the futures market. On the 17th of January, DoubleZero saw $9.31 million in Futures Inflows compared to $8.86 million in Outflows.
Meanwhile, the altcoin’s Long Short Ratio remained above 1 at around 1.14, suggesting that capital mostly flowed into long positions. Thus, most market participants are bullish and aggressively bet on price appreciation.
DoubleZero broke out, as investors piled into the asset, following the altcoin’s recent listing on Grayscale’s 2026 watchlist.
As a result, the altcoin’s upside momentum strengthened. The Directional Movement Index (DMI) climbed to 47, while its ADX fell to 16, at press time.
Often, when this indicator rises to such levels, it suggests strong upside strength backed by significant demand. Such market behavior tends to support the continuation of the upside.
However, the price uptick created a perfect opportunity for profit takers. As a result, holders who had been underwater rushed into the market, increasing spending significantly.
In fact, over $7.65 million flowed into exchanges over the past three days, while Outflows held around $7.27 million. As a result, Netflow has remained positive over this period, reflecting sustained profit taking.
In fact, rising exchange inflows threaten the upside, and continued selling could push DoubleZero back to $0.12.
